Wells Fargo & Company (NYSE:WFC) Shares Sold by First National Trust Co

First National Trust Co cut its stake in shares of Wells Fargo & Company (NYSE:WFC) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 19,100 shares of the financial services provider’s stock after selling 143 shares during the period. First National Trust Co’s holdings in Wells Fargo & Company were worth $1,342,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WFC. Intact Investment Management Inc. lifted its stake in Wells Fargo & Company by 3.8% in the fourth quarter. Intact Investment Management Inc. now owns 187,000 shares of the financial services provider’s stock worth $13,135,000 after acquiring an additional 6,850 shares during the last quarter. Northwest Wealth Management LLC lifted its position in shares of Wells Fargo & Company by 3.0% during the 4th quarter. Northwest Wealth Management LLC now owns 14,846 shares of the financial services provider’s stock worth $1,043,000 after purchasing an additional 431 shares during the last quarter. Atala Financial Inc purchased a new stake in shares of Wells Fargo & Company during the 4th quarter worth $552,000. LBP AM SA grew its stake in shares of Wells Fargo & Company by 199.2% during the fourth quarter. LBP AM SA now owns 53,216 shares of the financial services provider’s stock worth $3,738,000 after purchasing an additional 35,429 shares in the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in Wells Fargo & Company in the fourth quarter valued at $2,921,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.

Wells Fargo & Company Stock Performance

Shares of WFC stock opened at $70.96 on Friday. Wells Fargo & Company has a 52-week low of $50.15 and a 52-week high of $81.50. The stock’s 50-day moving average price is $75.89 and its 200 day moving average price is $68.84. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $233.31 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.18 and a beta of 1.16.

Wells Fargo & Company (NYSE:WFC) last released its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.34 by $0.09. Wells Fargo & Company had a return on equity of 12.38% and a net margin of 15.73%. The business had revenue of $20.38 billion during the quarter, compared to analysts’ expectations of $20.58 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities research analysts forecast that Wells Fargo & Company will post 5.89 EPS for the current year.

Wells Fargo & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, March 1st. Stockholders of record on Tuesday, January 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend was Friday, February 7th. Wells Fargo & Company’s dividend payout ratio (DPR) is presently 29.74%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Royal Bank of Canada raised Wells Fargo & Company from a “sector perform” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Thursday. Piper Sandler boosted their target price on Wells Fargo & Company from $62.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Truist Financial increased their price target on shares of Wells Fargo & Company from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Citigroup boosted their price objective on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Finally, Morgan Stanley increased their target price on shares of Wells Fargo & Company from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.39.

Wells Fargo & Company Company Profile

Wells Fargo & Co is a diversified and community-based financial services company, which engages in the provision of banking, insurance, investments, mortgage, and consumer and commercial finance products and services. It operates through the following segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth and Investment Management.